GMP Storage Market

GMP Storage Market Outlook (2024 to 2034)

The global GMP storage market is estimated to be valued at US$ 6,568.3 million in 2024. Projections indicate a remarkable expansion with a CAGR of 5.3% through 2034. Anticipated growth is set to propel the market to an impressive size of US$ 11,019.9 million by 2034. The increased demand for pharmaceutical and biotechnology products, coupled with stringent regulatory requirements, has contributed to this exponential market growth.

The GMP storage market generated an estimated revenue of US$ 5,076.0 million in 2019. In five years, the market grew at a pace of 5.28% CAGR and added a staggering revenue of US$ 1,492.3 million.

• The expanding pharmaceutical and biotechnology sectors are driving the demand for GMP storage to ensure the safe and regulated storage of raw materials, intermediates, and finished products
• Increasingly stringent regulations and quality standards in the pharmaceutical and healthcare industries
• The globalization of pharmaceutical manufacturing and supply chains leads to a greater need for standardized and regulated storage practices.
• Advances in storage technologies, such as temperature-controlled storage, real-time monitoring, and automated systems
• The growing complexity of pharmaceutical products, including biologics and personalized medicines
• Growing awareness of the importance of GMP standards in ensuring product quality and patient safety in the pharma industry
• Continuous investment by the pharmaceutical industry in GMP-compliant storage to prevent contamination, degradation, or other issues that could compromise the efficacy and safety of their products.

Apart from these factors, several others have contributed to the remarkable expansion of the GMP storage market. The continuous innovation and development of new pharmaceutical and biotechnological products have necessitated the need for secure and compliant storage solutions, augmenting the business growth. The last few years have also seen a considerable rise in biopharmaceutical production, including biologics and biosimilars. This has led to a surge in demand for GMP-compliant storage facilities to accommodate the unique storage requirements of these complex and sensitive products.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 6,568.3 million
Forecasted Market Value (2034F)	US$ 11,019.9million
Global Market Growth Rate (2024 to 2034)	5.30% CAGR
Product Segment Growth Rate (2024 to 2034)	5.10%
Biopharmaceutical Companies Segment Growth Rate (2024 to 2034)	5.00%
North America Market Share (2024)	49.4%
East Asia Market Share (2024)	11.4%
Key Companies Profiled	ThermoGenesis Holdings, Inc. ThermoFisher Scientific Inc. BioLife Solutions, Inc. Danaher(Cytiva) MEDIPOST REMI GROUP Eurofins Scientific Eppendorf Intertek Group Plc Arctiko Bioline Technologies Hindustan Apparatus Mfg. Co. P L Tandon & Co. Stericox India Private Limited SY-LAB Geräte GmbH BioConvergence LLC d/b/a Singota Solutions PHC Holdings Corporation Pace Life Sciences Haier Biomedical Helmer Scientific Inc.

Which Factors Have Driven the Global Surge for GMP Storage Demand?

“Rising Prominence of the Pharmaceutical and Biotechnology Industries to Amplify Growth”

Post-pandemic, there has been a considerable rise in the significance of pharmaceutical and biotechnology industries in the medicare industry. The need for secure and regulated storage becomes one of the most essential components in the manufacturing of medications such as drugs, capsules, vaccines, etc. The GMP storage market is also skyrocketing due to its ability to provide a controlled environment to safely store crucial elements within the production process.

Apart from this, GMP (Good Manufacturing Practice) standards also ensure that the storage solutions used by the manufacturing company adhere to the stringent quality and safety requirements of the pharmaceutical and biotech sectors. This has driven a considerable surge in the adoption of GMP-compliant storage solutions in worldwide industries, thus amplifying the growth of the GMP storage market.

“Globalization of the Pharmaceutical Supply Chain to Play an Important Part”

The worldwide network of manufacturing and distributing medicines requires safe and well-regulated storage solutions to ensure product safety. GMP standards make sure that the storage solutions used by pharmaceutical companies follow strict rules for quality and safety. This has led to a big increase in the demand for GMP storage solutions that meet these high standards.

Companies involved in the manufacturing of pharmaceutical products have been actively seeking storage options that not only comply with global regulations but also provide a secure environment for their products. This has led to an increased demand for GMP storage solutions as they offer a structured and controlled space according to rigorous standards set by the industry.

Which Factors Present Challenges to the Expansion of the GMP Storage Market?

“High Initial Capital Investment, Specialized Infrastructure Requirements, and Environmental Concerns to Slow down Market Growth”

Establishing GMP-compliant storage facilities requires substantial upfront financial resources. This investment, in the initial stages, poses a considerable hindrance for smaller enterprises or those with limited budgets. Besides this, there is also limited awareness of the benefits of GMP-compliant storage. Another challenge that the industry faces is the sustainability of GMP (Good Manufacturing Practice) storage operations. This can add additional costs during the initial setup and ongoing operational phases for the companies involved, which might deter smaller companies from adopting these standards.

Country-wise Insights

The East Asia GMP storage market is poised for exceptional growth, projecting a modest CAGR of 6.5% through 2034. The surge is primarily attributed to increasing demand for GMP storage in key countries, notably China and Japan. In 2024, China will dominate the industry with an estimated 50.0% market share. Meanwhile, the North American is anticipated to exhibit substantial progress, aiming for a 5.4% CAGR in 2024. In this region, the United States emerges as the key player in the industry, commanding a significant share of 87.7% in 2024.

Why is China Leading the GMP storage Market in the East Asian Region?

“Rapid Growth of China’s Pharmaceutical and Biotechnology Industries to Augment Market Growth”

East Asia’s market stood at US$ 748 million in 2024, acquiring a revenue share of 11.40%, and is further projected to expand at a CAGR of 6.5% through 2034. China’s GMP storage industry is estimated to be worth US$ 374 million in 2024. The demand for GMP storage in China is projected to rise at a CAGR of 6.8% through 2034.

China is home to one of the largest populations in the world. This enormity of the population results in massive healthcare and pharmaceutical investments, both by the public and private sectors. The rapid growth of China's pharmaceutical and biotechnology industries has fueled a substantial demand for GMP-compliant storage solutions. This investment has also led to the establishment of advanced storage facilities equipped with temperature-controlled environments, real-time monitoring systems, and cutting-edge security measures. These factors have collectively made China one of the leading markets in this industry.

Why is the United States Commanding the Global GMP Storage Market?

“Stringent Regulations and Continuous Innovative Spirit to Help Market Expansion”

The United States’ GMP storage industry is estimated to be worth US$ 2,844 million in 2024, garnering a share of 87.7% in the North American region. The sales of GMP storage are likely to record a CAGR of 5.3% through 2034.

The United States holds a prominent position in the global GMP storage market due to the strict regulatory framework in its pharmaceutical sector. These regulations have made it mandatory to comply with GMP standards, creating a culture of quality assurance in storing and distributing pharmaceutical products.

Category-wise Insights

The product segment is estimated to hold an 83.2% market share in 2024 based on the products and services. Simultaneously, the biopharmaceutical companies’ segment is anticipated to secure a noteworthy 41.6% share, contributing significantly to the market's resource diversity and stability. Based on applications, the biologic segment marks its dominance in the GMP storage industry, with a share of 37.3% in 2024.

Why are the GMP Storage Solutions Gaining Popularity in the Biologic Sector?

“Temperature-controlled Environments and Real-time Monitoring Systems”

The demand for GMP storage solutions in biologics is experiencing a tremendous surge as they offer the necessary infrastructure and technologies, such as temperature-controlled environments and real-time monitoring systems, to ensure the integrity of biological products throughout their storage duration. The stringent quality standards in GMP compliance assure biopharmaceutical companies that their valuable and often high-value biologic products are stored under optimal conditions, minimizing the risk of degradation or loss of efficacy.

The last few years have seen an exponential expansion of the biologic sector in and around the developing economies. Due to this, regulatory authorities are placing heightened emphasis on the need for GMP compliance in the storage and distribution of these specialized products. This has significantly augmented the importance of GMP compliance in facilities handling these specialized products. All these factors have, thus, propelled a remarkable surge in the demand for GMP-compliant storage solutions.

Competitive Landscape

The global GMP storage market is filled with a multitude of companies, such as ThermoGenesis Holdings, Inc., ThermoFisher Scientific Inc., BioLife Solutions, Inc., Danaher (Cytiva), MEDIPOST, etc. These companies have a strong foothold in the international marketplace due to their prolonged presence in the industry. There is a presence of smaller companies in the market. However, these companies have to face substantial challenges due to the dominance of the industry giants.

• Almac Sciences, a member of the Almac Group, officially opened a new custom-built GMP warehouse and dispatch hub at its global headquarters in Craigavon, UK in February 2023. This facility consolidated existing warehouses and supply chain offices, providing support for all active pharmaceutical ingredient (API) manufacturing.
• Belgian testing solutions provider and one of the leading companies in the GMP storage market, Eurofins has inaugurated its largest biopharma services campus in Genome Valley, Hyderabad, India. The facility will cater to the life sciences, agrisciences, and environmental sectors.
• In August 2023, Avantor inaugurated its expanded Singapore Hub, which included newly added cGMP manufacturing and a world-class quality control laboratory. The hub served as a one-stop facility, meeting the needs of customers across Asia, the Middle East, and Africa (AMEA)

Key Segments Covered in GMP Storage Industry Research

• By Product & Service:

  • Products
    • Refrigerators and Freezers
    • Cryogenic Storage
  • Services

• By Application:

  • Cell & Gene Therapy
  • Cell Banking
  • Biologics
  • Small Molecules
  • Others

• By End User:

  • Biopharmaceutical Companies
  • Contract Manufacturing Organizations
  • Contract Research Organizations
  • Research & Academic Institutes

• By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa